engleski

Systemic competitiveness of post-socialist and capitalist economies : a broader look at the competitiveness debate

So far, international competitiveness studies have mainly been focused on constructing ranking schemes. This paper adds to the literature by analyzing the World Competitiveness Yearbook data in order to econometrically pinpoint the crucial competitiveness determinants for 35 world countries. Applying the system GMM panel data estimator on post-socialist (PS) and capitalist countries separately, several conclusions arise: i) small and medium enterprises are the main competitiveness generator in the PS block (opposing large corporations in the capitalist economies), ii) credit rating is highly relevant in both groups, iii) labour market flexibilization in PS countries play a vital role in boosting competitiveness.

systemic competiveness; World Competitiveness Yearbook; post-socialist countries; capitalist countries; system GMM estimator; panel data

nije evidentirano